India should simultaneously prioritise domestic exploration and production of more oil and gas in the country, and ensure we retain diversified suppliers for imports, points out former foreign secretary Ranjan Mathai.
ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corporation, will make an offer to acquire shares of the United Kingdom-listed Imperial Energy Corp Plc at 12.50 pounds a share by December 9.
Old timers in Oil and Natural Gas Corporation (ONGC) still remember how in early 2000 its overseas subsidiary, ONGC Videsh Ltd (OVL), was on the verge of closure. Though OVL was set up in 1965, the only discovery the company had made till then was in Vietnam offshore, with more investment needed to monetise it. In 2001, when OVL started looking for new blocks abroad, the company's previous acquisition was 13 years old.
Russia on Monday said it will not join the World Trade Organisation this year and is unlikely to join the global trade body next year.
The Antonov AN-24 plane crashed and burst into flames five kilometers from the Varandey airfield in Nenets Autonomous District, more than 1,000 km north of Moscow while approaching for landing. 23 survivors were rushed to hospital.
Kalashnikov assault rifles, popular with terrorists and national armies in Asia and Africa, have been given a makeover and a new logo by its Russian manufacturer that has dubbed them as "weapons of peace".
A torchbearer died of a heart attack after carrying the Olympic flame as part of Russia's torch relay leading up to the Sochi 2014 Winter Games in February, an official said on Monday. Vadim Gorbenko, 73, a sports school director and Greco-Roman wrestling coach, felt ill after walking 150 metres (500 feet) with the torch in his home city of Kurgan in western Siberia, said Roman Osin, spokesman for the Sochi 2014 torch relay.
A Russian civilian Airbus plane carrying 224 people, mostly tourists, crashed in Egypt's Sinai peninsula on Saturday with most of those on board feared dead as the jet's wreckage was found in a mountainous area.
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